ACCOUNTS - Final Accounts preparation

Company registration number: 11883225

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 DECEMBER 2025

	MGR 1 LIMITED


MGR 1 LIMITED

COMPANY INFORMATION

Director	M McElduff


Registered number	11883225


Registered office	Cheeca Lodge
	Flower Lane
	Godstone
	Surrey
	RH9 8DE


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Origin One
	108 High Street
	Crawley
	RH10 1BD


MGR 1 LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 4


MGR 1 LIMITED REGISTERED NUMBER:11883225

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025


	31 December 2025	31 March 2025
Note	£	£


Current assets
Stocks		4,768,498		3,391,661
Debtors: amounts falling due within one year	4	2,203		84
Cash at bank and in hand		-		594
		4,770,701		3,392,339
Creditors: amounts falling due within one year	5	(756,456)		(3,405,956)
Net current assets/(liabilities)			4,014,245		(13,617)
Total assets less current liabilities			4,014,245		(13,617)
Creditors: amounts falling due after more than one year			(4,030,788)		-

Net liabilities			(16,543)		(13,617)

Capital and reserves
Allotted, called up and fully paid share capital	100	100
Profit and loss account	(16,643)	(13,717)
	(16,543)	(13,617)

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

Page 1


MGR 1 LIMITED REGISTERED NUMBER:11883225

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M McElduff

Director

Date: 21 October 2026

The notes on pages 3 to 4 form part of these financial statements.

Page 2


MGR 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

MGR 1 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the company information page.

The Company's accounting period was shortened to a 9 month period ending on 31 December 2025 to coincide with the rest of the group year ends. Therefore the periods are not comparable.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

As at 31 December 2025 the statement of financial position reports net liabilities of £16,543 (31 March 2025 - £13,617). The company is reliant upon the continued support of its directors and its creditors, who confirm their continued financial support of the company. The directors therefore consider it appropriate to prepare the accounts on a going concern basis.

2.3

Finance costs

Finance costs are recognised in profit or loss using the effective interest method, except for borrowing costs directly attributable to the development of qualifying assets, which are capitalised as part of the cost of those assets in accordance with the Company's accounting policy.

2.4

Stocks

Property development work in progress is stated at the lower of cost and estimated net realisable value. Cost comprises land acquisition costs, direct development and construction costs and other costs directly attributable to bringing the development to its present location and condition. Borrowing costs directly attributable to the development are capitalised as part of the cost of the development during the period in which development activities are undertaken. Provision is made for any foreseeable losses where appropriate.

Employees

The average monthly number of employees, including directors, during the period was 2 (year ended 31 March 2025 - 2).

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MGR 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

Debtors

					31 December 2025	31 March 2025
					£	£


Tax recoverable	2,203	84
	2,203	84

5.	Creditors: Amounts falling due within one year
		31 December 2025	31 March 2025
		£	£

Trade creditors	3,780	-
Amounts owed to associated companies	6,934	400
Finance loans	742,867	3,399,461
Accruals and deferred income	2,875	6,095
	756,456	3,405,956

The company's loan from Warlock Investments Limited is secured by a second-ranking legal charge over the company's property and a second-ranking charge over the shares in the company.

The facility has a maximum principal amount of £750,855 and is repayable together with a fixed return of £650,513. Under the facility agreement dated 15 March 2024, amounts outstanding are repayable on the earlier of certain specified repayment events and the final maturity date, being 24 months from the date of the agreement.

6.	Creditors: Amounts falling due after more than one year
		2025	2025
		£	£

Finance loans	4,030,788	-
	4,030,788	-

Zorin Avenue Lendco 5 Limited holds fixed and floating charges in relation to a loan to MGR 1 Limited, which are secured against the assets and undertakings of the company.

The loan is repayable more than one year from the balance sheet date and bears interest at the applicable reference rate plus a margin of 7.5%. The loan is subject to an exit fee.

Page 4